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Analysts’ recommendations

What the analysts say

Should you buy, sell, or hold on to PostNL shares? Here we present the recommendations of financial analysts. Feel free to contact them via mail for more information about PostNL stock.

Broker

Analyst

Recommendation

Target

Date

Barclays Capital

Mark McVicar

Neutral

EUR 2.10

3 June 2019 

Berenberg

William Fitzalan Howard

Buy

EUR 2.65

10 May 2019

De Groof Petercam

Frank Claassen

Hold

EUR 2.00

20 May 2019

ING

Marc Zwartsenburg

Buy

EUR 3.00

17 Jun 2019

Jefferies

David Kerstens

Hold

EUR 1.80

6 Aug 2019

KBC Securities NV

Ruben Devos

Buy

EUR 3.40

15 May 2019

KeplerCheuvreux

André Mulder

Buy

EUR 2.15

15 Aug 2019

Main First

Tobias Sittig

Buy

EUR 4.00

7 Nov 2018

the IDEA!

Henk Slotboom

-

-

-

Adjusted on 26 August 2019/10:02

Disclaimer: PostNL is covered by analysts of the brokerage firms listed above. The list may not be complete and is subject to change. Any opinions, estimates or forecasts regarding PostNL's performance made by these analysts are theirs alone and do not represent opinions, forecasts or predictions of PostNL or our management. By publishing the information above, PostNL does not imply, and expressly disclaims, any endorsement of or concurrence with any information, estimates, forecasts, opinions, conclusions or recommendations provided by these analysts. PostNL does not assess, comment on or correct analysts' reports, other than factually. PostNL does not pay any fees for carrying out research for analysts' reports or for the production or publication of analysts' reports, with the exception of credit rating agencies.

Consensus


CONSENSUS PRE 3Q 2019

October 2019




3Q19 E
consensus
FY19 E*
consensus
Revenue

Parcels4101,692
Mail in the Netherlands3521,585
PostNL Other1776
Intercompany-122-516
Total Revenue6572,847

Underlying operating income


Parcels32126
Mail in the Netherlands 489
PostNL Other-8-36
Total underlying operating income29179

changes in pension liabilities

3

15
changes in provisions-2-10
Underlying cash operating income27180



Cost savings1454
Volume decline addressed mail NL9.1%9.2%



Based on estimates of 9 analysts

* impact acquisition Sandd not taken into account

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